ECONOMIC MOMENTUM

From South Korea to Jarrell

IN A MOVE THAT UNDERSCORES ITS GROWING INTERNATIONAL OUTREACH, THE WILLIAMSON COUNTY ECONOMIC DEVELOPMENT PARTNERSHIP (WILCO EDP) ESTABLISHED AN OFFICE IN SEOUL, SOUTH KOREA. THIS INITIATIVE, ANNOUNCED BY ECONOMIC DEVELOPMENT DIRECTOR DAVE PORTER IN JULY, AIMS TO DIRECT SOUTH KOREAN FIRMS EYEING U.S. EXPANSION TOWARD WILLIAMSON COUNTY AND ITS MUNICIPALITIES.

Jarrell Measures Up

One of the pioneering ventures of the new EDP office was a half-day seminar September 12, titled "How to Do Business in Williamson County." The event, Dave said, was a "packed schedule" and included a hosted delegation from Williamson County, comprised of economic development leaders and city managers — including Jarrell EDC Executive Director Traci Anderson — all of whom interacted with more than 100 South Korean companies.

Traci says, “This trip was truly a group effort. The entire Williamson County delegation had a seat at the table as a county collective, but we were given opportunities to speak about our individual communities. During these discussions, I conveyed Jarrell’s unique distinction of still possessing abundant undeveloped land that holds tremendous value with an affordable price tag. Along with our location to pull from a different workforce and IH-35 frontage, Jarrell has the ability to measure up to our competitors. We essentially have a blank canvas that the city can shape into a remarkable community, paving the way for the next generation of Jarrell residents. I believe — in the near future — Jarrell will be cast with a new identity, distinct from its past.”

Traci explains in addition to land, there is a workforce of 1.42 million living within a 45-minute drive of Jarrell. With a high median household income of $95,510, the low cost of living in and around the city will be a great benefit for local workers. “We are experiencing a tremendous growth rate,” she says. “We have residential and commercial developments already underway, and we offer fast-track permitting for commercial developments and planning support.”

Strategic Rationale

With the construction of the Samsung semiconductor manufacturing plant in Taylor, the demand for suppliers in Central Texas is surging. Consequently, the South Korea office will not simply focus on semiconductor suppliers but also those in research, life sciences, automotive, and software sectors within Williamson County.

Traci says Jarrell is well suited for several of those industry sectors and is targeting:

• Advanced Manufacturing

• Electronics and Component Manufacturing

• Semiconductor Fabrication and Supply Chain Manufacturers

• Clean Energy Technology Manufacturing & Assembly

• Information Technology

• Department of Defense

• Office/Warehouse

• Creative Industry

Endorsements

Dave emphasized South Korea's prominence in technology innovation and stressed the potential of the Seoul office as a gateway for the entire Asian market. County Judge Bill Gravell emphasized Williamson County's readiness for business collaborations with South Korean firms. “We have placed a sign in the sky that says Williamson County is open for business. This office gives us boots on the ground locally so when companies come to KOTRA wanting to do business in the U.S., they can walk them down the hall to our offices.”

Cultural Exchange

Traci says, “While in Korea, we met with KOTRA and the U.S. Embassy to forge a relationship and connect the dots that will streamline our efforts to move a company from South Korea to the United States. WilCo EDP has a Korean consultant who helps bridge the gaps in our language and culture, but Jarrell is here to assist them every step of the way. We will ensure they have a single point of contact to ensure there are no breaks in communication and the ball is never dropped.”

Current Development

Jarrell is an emerging community that is just beginning to see the growth and development.

• 4,745 residential lots under construction.

• 5,130 residential lots planned.

• 19,000+ proposed lots, including a 7,000-acre planned development under contract that could bring up to 50,000 residents to the area.

• Jarrell’s first major mixed-use project is currently underway with “Class-A” multi-family, hotel sites, flex office/storage, single-family, retail pad sites.

• A second major mixed-use project with industrial, hotel, multi-family, office, and retail is also moving forward with due diligence.

WHAT'S NEXT?

The South Korea trip has already brought many leads and site visits since the trip to Williamson County and a couple of announcements have been made. Jarrell has responded to several leads and hosted a couple site visits. Traci says, “These typically take time to develop, and we will continue to respond to leads and show what Jarrell has to offer. We have a very progressive follow-up plan and will continue building relationships to strengthen our ties and connections.” Visit JarrellEDC.org.

Jarrell Demographics

• Total population in city limits: 2,888

• Population growth rate from 2021 – 2022: 16.97% (and continuing annually)

• Total workforce within 45-minute drive time: 1.42 million

• Bachelor’s degree or higher: 29.3%

• Median household income: $95,510

• Median age: 37.8